abrdn plc Has $8.73 Million Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

abrdn plc lifted its position in The Trade Desk, Inc. (NASDAQ:TTD) by 57.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 79,618 shares of the technology company’s stock after buying an additional 28,967 shares during the period. abrdn plc’s holdings in Trade Desk were worth $8,730,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Smith Group Asset Management LLC increased its stake in Trade Desk by 38.5% during the 3rd quarter. Smith Group Asset Management LLC now owns 15,800 shares of the technology company’s stock worth $1,732,000 after purchasing an additional 4,390 shares in the last quarter. Kercheville Advisors LLC increased its position in shares of Trade Desk by 66.1% during the third quarter. Kercheville Advisors LLC now owns 11,060 shares of the technology company’s stock worth $1,213,000 after acquiring an additional 4,400 shares in the last quarter. J.W. Cole Advisors Inc. increased its position in shares of Trade Desk by 84.3% during the third quarter. J.W. Cole Advisors Inc. now owns 29,488 shares of the technology company’s stock worth $3,233,000 after acquiring an additional 13,490 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of Trade Desk during the third quarter worth $216,000. Finally, Bristlecone Advisors LLC lifted its position in Trade Desk by 1.1% in the 3rd quarter. Bristlecone Advisors LLC now owns 18,866 shares of the technology company’s stock valued at $2,069,000 after acquiring an additional 197 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TTD. Wells Fargo & Company initiated coverage on Trade Desk in a report on Monday, October 28th. They set an “overweight” rating and a $150.00 target price for the company. Morgan Stanley increased their price objective on Trade Desk from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Robert W. Baird boosted their target price on Trade Desk from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. Evercore ISI raised Trade Desk to a “strong-buy” rating in a research report on Tuesday, August 6th. Finally, Macquarie lifted their price objective on shares of Trade Desk from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $115.60.

Trade Desk Price Performance

NASDAQ:TTD opened at $119.19 on Friday. The company has a market cap of $58.59 billion, a P/E ratio of 238.38, a P/E/G ratio of 5.78 and a beta of 1.47. The firm’s fifty day moving average price is $110.78 and its two-hundred day moving average price is $99.46. The Trade Desk, Inc. has a one year low of $60.23 and a one year high of $123.85.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The firm had revenue of $584.55 million for the quarter, compared to analysts’ expectations of $578.03 million. During the same period in the prior year, the firm earned $0.07 EPS. The business’s revenue was up 25.9% on a year-over-year basis. As a group, equities research analysts expect that The Trade Desk, Inc. will post 0.86 earnings per share for the current year.

Insider Buying and Selling

In other Trade Desk news, insider Samantha Jacobson sold 4,872 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $99.50, for a total value of $484,764.00. Following the transaction, the insider now directly owns 99,374 shares of the company’s stock, valued at $9,887,713. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Jeffrey Terry Green sold 135,922 shares of Trade Desk stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $103.72, for a total value of $14,097,829.84. Following the completion of the sale, the chief executive officer now directly owns 664,261 shares in the company, valued at approximately $68,897,150.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Samantha Jacobson sold 4,872 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $99.50, for a total value of $484,764.00. Following the completion of the sale, the insider now owns 99,374 shares of the company’s stock, valued at approximately $9,887,713. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,557,897 shares of company stock valued at $170,121,565. Insiders own 9.72% of the company’s stock.

About Trade Desk

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.